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Business
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| Number of pages / Number of words: |
2 / 518 |
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“Entrepreneurial ability is a special human resource, distinct from labor. (1) The entrepreneur takes the initiative in combining the resources of land, capital, and labor to produce a good or a service, (2) makes the strategic business decisions that set the course of an enterprise, (3) is a risk bearer...
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The entrepreneur in a market system has no guarantee of profit. The reward for the entrepreneur’s time, efforts and abilities may be profits or losses.†(McConnell-Brue, 2004, p. 23)
References
Campbell R. McConnell, Stanley L. Brue (2004) The Economizing Problem. New York: The McGraw-Hill Companies...
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